Saratoga Investment Corporation
535 Madison Avenue, Fourth Floor, New York, NY, 10022, United States
Overview
Saratoga Investment Corp. is a specialty finance company that invests primarily in leveraged loans and mezzanine debt issued by U.S. middle-market companies, both through direct lending and through participation in loan syndicates. It has elected to be treated as a business development company under the Investment Company Act of 1940. Saratoga Investment Corp. is traded on the New York Stock Exchange under the symbol "SAR." Saratoga Investment Corp. includes an SBIC-licensed subsidiary.
- Total investments
- 2
- Lead investments
- 2
- Investments · 12mo
- 0
- Active investors
- 4
Sector focus
- Business Development
- Finance
- Financial Services
Investment portfolio
- Xurya
Led · Series A · Jan 2022
Xurya operates as a solar service provider that offers customers a "no-investment" leasing system for adopting solar. Its one-stop solution covers PLTS feasibility studies, installation, operation and maintenance. The model lets users deploy solar without upfront capital through the leasing arrangement. On July 1, 2024 the company announced a $55 million strategic investment. The financing was led by the Norway Climate Investment Fund, with participation from Swedfund, Clime Capital, British International Investment and AC Ventures. The article does not disclose operating metrics, use of proceeds, or other financial details. Launched in 2018 in Indonesia, Xurya offers a no-investment leasing approach and an all-in-one PLTS solution covering feasibility studies, installation, operation, and maintenance (including component replacement). The company serves a range of sectors including manufacturing (food & beverage, FMCG, construction materials, metals, textiles, garments), cold storage, logistics centers, hotels, and shopping malls. Xurya says it has completed over 50 PLTS projects and maintains a portfolio of multi-megawatt power-generating installations. Notable customers include Tokopedia, Traveloka, MGM Bosco, and Plaza Indonesia. The company reported a 3x increase in its PLTS in 2021. Xurya intends to use new funding to continue building rooftop solar capacity and to invest in technology and human resources.
- Easy Ice
Led · Equity · Feb 2014
Easy Ice is a Plains, Michigan-based provider of commercial ice machines that operates a national subscription service. Its subscriptions feature Hoshizaki ice machines and include repairs, maintenance, water filters, cleanings and replacement ice. The company is led by CEO Mark Hangen and CMO John Mahlmeister. Easy Ice raised $20m in funding and intends to use the proceeds to continue to grow. The company stated the funds will support growth in 2014.